https://www.taxtmi.com/caselaws?id=260219 The Court dismissed the Revenue's appeal challenging the ITAT's decision on the genuineness of purchases made by the assessee for AY 2007-08. The Assessing Officer's addition of a significant amount was deemed unjustified as the CIT (A) considered various factors, including parties' tax records and banking details, and concluded that holding the purchases as bogus was unwarranted solely based on parties' non-appearance before tax authorities after a considerable time lapse. The Court found no legal question for consideration and upheld the decision, emphasizing the importance of factual evidence in such matters. en-us Wed, 20 May 2015 00:00:00 +0530 Fri, 05 Jun 2015 13:25:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260219 The Court dismissed the Revenue's appeal challenging the ITAT's decision on the genuineness of purchases made by the assessee for AY 2007-08. The Assessing Officer's addition of a significant amount was deemed unjustified as the CIT (A) considered various factors, including parties' tax records and banking details, and concluded that holding the purchases as bogus was unwarranted solely based on parties' non-appearance before tax authorities after a considerable time lapse. The Court found no legal question for consideration and upheld the decision, emphasizing the importance of factual evidence in such matters. Case-Laws Income Tax Wed, 20 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260219